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Ford Profits $1.9 Billion in Second Quarter of 2015

Motor Trend logo Motor Trend 7/28/2015 Jake Holmes

Hot on the heels of General Motors' impressive second-quarter results, Ford Motor Company also announced record profits for the second quarter of 2015. Ford posted $1.9 billion in net income on a revenue of $37.3 billion, giving the company an operating margin of 7.2 percent. Globally, Ford market share rose 0.1 percentage points year-over-year to 7.6 percent.

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The results handily beat Ford's Q2 2014 profit by 44 percent, and outpaces the company's $924 million profit last quarter. Once again, Ford said that strong North American sales and profits led the entire company's success, with North American pre-tax profits of $2.6 billion up $157 million from a year ago.

Ford said that higher sale prices of new models and "favorable volume" -- the company's U.S. sales are up 1.9 percent year-over-year so far in 2015 -- drove the improved results. But Ford noted that low availability of its most popular model, the Ford F-150 pickup truck, hurt the company.

Ford also enjoyed record profits in its Asia Pacific region, with $192 million in pre-tax income. But in Europe, Ford continues to struggle. Sales volume on the continent rose 3 percent year-over-year, but Ford says the effect of a strong U.S. dollar compared to the Euro hurt the brand there, leading to a pre-tax loss of $14 million.

Source: Ford

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